KUALA LUMPUR, Aug 21 -- It is business as usual for Utusan Melayu (Malaysia) Bhd, contrary to market talk that the group would cease to exist after this week.
In a filing to Bursa Malaysia, the board announced that the company would continue to operate and publish its newspapers, namely Utusan Malaysia and Kosmo!.
"As such, the Board denies rumours that Utusan will cease its printing and operation, which has been widespread in other newspapers and social media," it said.
The company also announced officially that its Malay-language newspaper publications would cost 50 sen more this week.
"The company has decided to increase the price of Utusan Malaysia from RM 1.50 per copy to RM 2.00 per copy, while Kosmo! from RM1.00 to RM1.50 per copy, effective Aug 23 and Aug 25 respectively,” it added.
The oldest surviving Malay daily was established in 1939 as Utusan Melayu, with its first publication in Jawi and has therefore been operating for 80 years.
The group recently announced that it would not be able to meet Bursa Malaysia’s requirement to uplift the Practice Note 17 (PN17) status from Aug 20, 2018, hence risking a possible de-listing from the local exchange.
At lunch break today, its share lost 0.5 sen to 6.5 sen with 1.26 million shares traded.